Technavio, a tech-focused market research firm, has published a new report on the global flexible protective packaging market, which is expected to grow at a CAGR of close to 6% during the forecast period 2016-2020.
Based on geographical segmentation, Technavio market researchers categorize the market into the following key regions: APAC, Europe, North America, South America, and ROW.
|
GEOGRAPHICAL REGIONS |
MARKET SHARE 2015 (%) |
|
Europe |
29.34% |
|
North America |
27.56% |
|
APAC |
25.78% |
|
South America |
10.13% |
|
ROW |
7.19% |
Source: Technavio
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Top three contributors for the global flexible protective packaging market are
Flexible protective packaging market in Europe: In 2015, Europe occupied the highest share in the global flexible protective packaging market and is expected to grow further during the forecast period.
According to Sharan Raj, a lead analyst at Technavio, specializing in research on packaging, “The market’s growth in the region is attributable to the rising demand for consumer and personal care products. Healthy growth in the manufacturing of durable goods such as appliances, motor vehicle parts, and industrial machinery that require cushioning and bracing during shipment will create a high demand for flexible protective packaging products.”
Flexible protective packaging market in North America: Increased consumer awareness, changing lifestyles, and preference for sustainable packaging materials boost the flexible protective packaging market in North America. Moreover, strict regulations to reduce packaging waste are fueling the demand for protective packaging products. The revival of the manufacturing sector and the reversal of outsourcing activities are also helping the market in this region to grow.
Flexible protective packaging market in APAC: APAC is the largest market for flexible protective packaging and is expected to post the fastest growth during the forecast period. The growth in the region is due to the demographic factors such as population growth, rapid urbanization, and economic factors such as industrialization and an increase in international trade. It has been noted that consumer electronics is one of the major end-user segments of the flexible protective packaging market in APAC.
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The top leading vendors operating in the global flexible protective packaging market are:
- DynaCorp
- Pregis
- Sealed Air
- Smurfit Kappa
- Storopack
Other prominent vendors in the market include FP International, Geami, iVEX Protective Packaging, Macfarlane Group, Unisource Worldwide, Veritiv Corporation, Shorr Packaging Corp, Automated Packaging Systems, and Polyair.
A more detailed analysis is available in the Technavio report titled, ‘Global Flexible Protective Packaging Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Industrial Packaging Market 2016-2020
- Global Green Packaging Market 2016-2020
- Global Sterilized Packaging Market 2016-2020
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